The report notes, "We remain Overweight on gold, with 3- and 12-month price targets at USD 4,350/oz and USD 4,800/oz, respectively. Ongoing Emerging Market (EM) central bank demand and supportive macro conditions should sustain gold's rally." It expects gold to extend its multi-year rally, s
Analysts said the rally reflects a confluence of macroeconomic and geopolitical factors that continue to reshape investor behaviour. They believed that a weaker US dollar as well as escalating geo-political tensions are being reflected in the continuous surge in the prices.
The reduction in import duty has ignited a resurgence in gold demand across India. Reports from the recently concluded India International Jewellery Show indicate a substantial increase in order bookings from retailers, particularly in preparation for the upcoming festive and wedding season.
Gold, considered a safe haven asset for investment, has been in demand for considerable period of time, with its prices rallying to hit record highs every now and then.
New Delhi [India], Aug 1 (ANI): The global gold demand was 1,123 tonnes in the second quarter (April to June) of 2019, up eight per cent year-on-year, the World Gold Council (WGC) said on Thursday.